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"MoviePass" Subscriptions Grows Rapidly with Price Cut

It took just a few days for MoviePass to surpass its 15-month goal of 150,000 subscribers, the service said Wednesday.

It probably shouldn't have been a surprise, though, given that MoviePass recently slashed its price from $50 to just $9.95, giving users essentially 30 movie tickets for the price of one.

For the uninitiated, MoviePass has been around for several years but it had amassed only about 20,000 subscribers at the $50 a month price. For that amount of money, users would get a movie ticket every day that they wanted to see a film in just about any theater in the country.

On Aug. 15, MoviePass cut its price to $9.95, resulting in 500,000 unique visitors at moviepass.com in six hours, a number that crashed its website.